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Yash Joshi
Human Resource (HR) and Corporate Admin Expert
Asked a question last year

What do you understand by SWOT analysis?

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Yash Joshi
Human Resource (HR) and Corporate Admin Expert

SWOT stands for 'Strengths, Weaknesses, Opportunities and Threats'. This is a method to analyze the environment and the company's standing in it.

SWOT consists of two parts. The strengths and weaknesses refer to the internal environment of a company while the opportunities and threats are related to the external environment.

Internal problems and issues are constantly dealt with. But external factors such as opportunities and threats are not in a company's control.

A SWOT analysis is one of the most important strategic tools available to a company, division or department. The acronym SWOT stands for strengths, weaknesses, opportunities and threats. The significance of SWOT analysis is that it provides a good way for companies to examine both positive and negative attributes within a single analysis, determining how best to compete in the market at large.